Product Strategy
Strategic Marketing Management (MGMG508 Section 1)
Mr. AKARAT SOW @ ID No. g5349179
Reflective Essay on Product Strategy
Product is one of the four key elements in Marketing Mix or 4Ps (product, place, price, promotion); it plays such a significant aspect for those companies who give their focus on the product which is where their strengths are, and this action has been called Product Orientation Method. It means the business approach that all company activities will put their attention to improve, re-design and refine its product quality by assuming that the customers always want the best quality product with a competitive price1. Product Strategy will be a key to success to product orientation companies where marketing plans will be designed and implemented based on the characteristics of the target customers, marketing and profit objectives, the desired product positioning, financial targets and budgets, and tactical plans2. Taking these three devices as examples of the companies using product strategy, “iPhone and iPad” from Apple and “Kindle” from Amazon; iPhone is a smart phone that combines a music player, a table PC, a digital camera and a phone together with entertainment and style, including internet browser and networking capabilities. Now “iPhone 4”, the fourth generation of iPhone which carry a better design and big improvements on many features, have just launched in the US market, while iPad is a bigger version of iPhone except calling function who just enter to match and compete with Kindle, an e-book reader machine from Amazon, which both of them were a new product to the market when they first launched.
iPhone 4
•Multi-function •Re-design of iPhone 3Gs •Multi-touch screen •Big storage •Lot of applications •Wifi, Blutooth and 3G •24-Hour battery life •Lot of applications •Price starts at $ 99 with contract
iPad
•Multi-function except call function •Cool design •Multi-touch screen •Large Screen Size (9.7 inch) •Big storage •Wifi,
Mr. AKARAT SOW @ ID No. g5349179
Reflective Essay on Product Strategy
Product is one of the four key elements in Marketing Mix or 4Ps (product, place, price, promotion); it plays such a significant aspect for those companies who give their focus on the product which is where their strengths are, and this action has been called Product Orientation Method. It means the business approach that all company activities will put their attention to improve, re-design and refine its product quality by assuming that the customers always want the best quality product with a competitive price1. Product Strategy will be a key to success to product orientation companies where marketing plans will be designed and implemented based on the characteristics of the target customers, marketing and profit objectives, the desired product positioning, financial targets and budgets, and tactical plans2. Taking these three devices as examples of the companies using product strategy, “iPhone and iPad” from Apple and “Kindle” from Amazon; iPhone is a smart phone that combines a music player, a table PC, a digital camera and a phone together with entertainment and style, including internet browser and networking capabilities. Now “iPhone 4”, the fourth generation of iPhone which carry a better design and big improvements on many features, have just launched in the US market, while iPad is a bigger version of iPhone except calling function who just enter to match and compete with Kindle, an e-book reader machine from Amazon, which both of them were a new product to the market when they first launched.
iPhone 4
•Multi-function •Re-design of iPhone 3Gs •Multi-touch screen •Big storage •Lot of applications •Wifi, Blutooth and 3G •24-Hour battery life •Lot of applications •Price starts at $ 99 with contract
iPad
•Multi-function except call function •Cool design •Multi-touch screen •Large Screen Size (9.7 inch) •Big storage •Wifi,